Chipotle Mexican Grill (NYSE:CMG) PT Raised to $2,850.00

Chipotle Mexican Grill (NYSE:CMGGet Free Report) had its price objective raised by equities researchers at Wedbush from $2,400.00 to $2,850.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s target price indicates a potential downside of 1.11% from the stock’s previous close. Wedbush also issued estimates for Chipotle Mexican Grill’s Q3 2024 earnings at $13.61 EPS, Q1 2025 earnings at $15.31 EPS, Q2 2025 earnings at $17.98 EPS, Q3 2025 earnings at $16.84 EPS and Q4 2025 earnings at $16.60 EPS.

A number of other research analysts also recently commented on the company. Robert W. Baird reaffirmed an “outperform” rating and set a $2,650.00 target price on shares of Chipotle Mexican Grill in a report on Monday, January 22nd. Stifel Nicolaus increased their target price on Chipotle Mexican Grill from $2,450.00 to $2,560.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Truist Financial increased their target price on Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Piper Sandler increased their target price on Chipotle Mexican Grill from $1,930.00 to $2,226.00 and gave the stock a “neutral” rating in a report on Tuesday, January 16th. Finally, Barclays increased their target price on Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,522.77.

Read Our Latest Analysis on Chipotle Mexican Grill

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $2,882.04 on Friday. The company has a market capitalization of $79.03 billion, a P/E ratio of 64.98, a P/E/G ratio of 2.50 and a beta of 1.29. Chipotle Mexican Grill has a one year low of $1,609.13 and a one year high of $3,023.98. The stock has a 50-day moving average price of $2,579.59 and a 200 day moving average price of $2,246.70.

Chipotle Mexican Grill shares are going to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMGGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 EPS for the quarter, beating analysts’ consensus estimates of $9.73 by $0.63. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.49 billion. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. Chipotle Mexican Grill’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.29 earnings per share. As a group, equities research analysts forecast that Chipotle Mexican Grill will post 53.11 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the sale, the insider now directly owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,100 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $2,278.45, for a total transaction of $2,506,295.00. Following the completion of the transaction, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at approximately $51,144,367.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the transaction, the insider now directly owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The disclosure for this sale can be found here. Insiders have sold a total of 7,893 shares of company stock worth $20,827,447 in the last three months. 0.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in Chipotle Mexican Grill during the 4th quarter valued at $32,000. Coppell Advisory Solutions LLC bought a new position in Chipotle Mexican Grill during the 2nd quarter valued at $32,000. Turtle Creek Wealth Advisors LLC bought a new position in Chipotle Mexican Grill during the 4th quarter valued at $37,000. ICA Group Wealth Management LLC bought a new position in Chipotle Mexican Grill during the 4th quarter valued at $37,000. Finally, Cornerstone Planning Group LLC bought a new stake in shares of Chipotle Mexican Grill during the 2nd quarter worth $39,000. 91.19% of the stock is owned by institutional investors.

About Chipotle Mexican Grill

(Get Free Report)

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.

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